The prices in real estate in Forbes, in the New South Wales region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per m² in Forbes has had a strong decrease during the last 6 months. In November, the average price per m² was $3,130. In the following month the price per m² decreased considerably to $1,059. The price for the following two months in (January, February) had a considerable increment of 131 %. The price per m² has had a considerable deflation of 11 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per m² of $2,417 to $271 during March, and April.
Based upon to the price in Forbes (suburbs), this has fallen considerably in the last 6 months. The price in November is $504,750, rising in December till $580,300. During the following two months (January, February) the average price had a considerable reduction of 68 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $455,670.25 to $232,355, which means a 51 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the most costly ones. At a price of $236,063 they are 2 % more expensive than the average price for Forbes. Following this ranking we find those properties with 3 at an average price of $275,171. The properties with the highest average price have 1 bedroom, Their price is 101 % more costly than the average. After that we have properties with 4 bedrooms priced at $406,522.
With regard to the average price per m² , those properties with 2 bedrooms are the most costly ones at a cost of $1,430 / m², with an average $266 / m² price in Forbes. The properties with the highest average prices have 1 bedroom. They are 60430 % more expensive than the average followed by properties with 4 bedrooms with a price at $79,730 / m².
The graph displaying the average prices displays the property type "Vacant Land" as the most costly one. At an cost of $236,063 it is 14 % more expensive than the average price in Forbes. "House" is seen as the second dearest property type. The dearest property type is "Acreage" followed by "House". At a price of $303,894 it is 136 % more expensive than the average price.
According to the average cost per m², the most expensive property type would be "Vacant Land" at an average cost of $775 / m² followed by "Acreage" priced at $7,916 / m². "House" is the most costly type of property with a $33,748 / m² cost followed by "Acreage" with an average price of $7,916 / m².